Is IAMGOLD (IAG) One of the Best Gold Stocks to Buy?

IAMGOLD Corporation (NYSE:IAG) is one of the 11 Best Gold Stocks to Buy According to Hedge Funds. On October 9, Raymond James increased its price target on IAMGOLD Corporation (NYSE:IAG) from $9 to $13 while keeping a Market Perform rating.

This decision to increase the price target on IAMGOLD Corporation (NYSE:IAG) came after the firm raised its gold and silver price forecasts for both the near and long term. The increase in forecasts is based on the recent run in gold prices and strong year-to-date performance.

Previously, on October 7, Michael Siperco from RBC Capital had maintained the firm’s Buy rating on IAMGOLD Corporation (NYSE:IAG).

Analysts have a positive outlook on IAMGOLD Corporation (NYSE:IAG). As of October 10, the 12-month median price target set by analysts indicates a potential upside of 10.35% from current levels.

IAMGOLD Corporation (NYSE:IAG) is a Canadian intermediate gold producer and developer with operations in North America and West Africa.

While we acknowledge the potential of IAG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.